Get ready for Self Assessment

The deadline to complete a tax return for the 2020 to 2021 tax year is approaching.

HM Revenue and Customs (HMRC) is reminding Self Assessment customers to check that they have the correct information to complete their tax return. Deadlines for the 2020 to 2021 tax year is 31st October 2021 on paper forms and 31st January 2022 for online.

HMRC has seen thousands filing returns already – more than 63,500 have filed their tax return on 6th April. Those who file before the January deadline still have until 31st January 2022 to pay.

Those new to Self Assessment must register to receive their Unique Taxpayer Reference (UTR). The Self-employed must also register for Class 2 National Insurance.

This year, some may have to declare they received grants or payments from COVID-19 support schemes up to 5th April 2021 – they are taxable, including:

  • Self-Employment Income Support Scheme
  • Coronavirus Job Retention Scheme
  • other COVID-19 grants and support payments such as self-isolation payments, local authority grants and those for the Eat Out to Help Out scheme

HMRC recognises that some may be worrying about paying their tax bill. Customers can access support to help pay any tax owed, and may be able to set up their own affordable monthly payment plan online by using HMRC’s self-serve Time to Pay facility. Contact HMRC for help if concerned about paying your bill.

HMRC’s Myrtle Lloyd, Director General for Customer Services:

We want to help people get their tax returns right by making sure they are prepared and have everything they need before they start their Self Assessment. If anyone is worried about paying their tax bill, support is available – search ‘time to pay’ on GOV.UK.

The fastest way to complete a tax return is online via the Personal Tax Account. Detailed information on what documents are needed for Self Assessment are on GOV.UK.

HMRC urges everyone to be alert if they are contacted out of the blue by someone asking for money or personal information. HMRC sees high numbers of fraudsters emailing, calling or texting people claiming to be from the department. If in doubt, HMRC advises not to reply directly to anything suspicious, but to contact them straight away and to search GOV.UK for ‘HMRC scams’.

Need more information

Find out more about Self Assessment.

If you claimed Self-Employment Income Support Scheme or received Coronavirus Job Retention Scheme grants, you’ll need to include details of all the taxable coronavirus support scheme payments you received during the 2020 to 2021 tax year.

If you are employed and received Coronavirus Job Retention Scheme (furlough) payments during the 2020 to 2021 tax year, you will need to enter your earnings and income tax as stated on the P60. It will include furlough payments received up to 5th April 2021, so you do not need to include those on your tax return.

If self-employed or in a partnership and received any coronavirus financial support, declare it on your Self Assessment.

If you are self employed, you should use:

  • form SA103S – short if your tax affairs are simple and your turnover was below the VAT threshold (£85,000) for the tax year
  • form SA103F – full if your annual turnover was above the VAT threshold for the tax year

If you’re in a partnership, you should use:

To find out which COVID-19 grant or support payments to include on your tax return if you are self-employed or a partner in a business go to: Reporting coronavirus (COVID-19) grants and support payments. There are boxes on these forms to include payments from any of the following:

  • Self-Employment Income Support Scheme (include details of grants received on or before 5th April 2021 in your 2020 to 2021 tax return. For most customers this will be grants 1 to 3)
  • Coronavirus Job Retention Scheme
  • Eat Out to Help Out
  • Test and trace or self-isolation payments
  • Coronavirus Statutory Sick Pay Rebate
  • Coronavirus Business Support Grants
  • any other taxable COVID-19 support scheme
  • payments that you were entitled to receive from local authorities or devolved administrations

The £500 one-off payment for working households receiving tax credits is not reported on Self Assessment.

PAYadvice.UK 12/10/2021

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